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ABOUT AUDIT U/S 44AB AND 44AD
I AM A CIVIL CONTRACTOR,MY TOTAL TURNOVER RS.2,87,00,000 FOR THE YEAR 2023-24.NOW I WILL TO BE FILED U/S 44 AD OR COMPULSORY AUDIT U/S 44 AB.IAM RECEIVED BY CHEQUE OF RS 2,87,00,000 BUT EXPENSES INCURRED CHEQUE AND CASH. RECENT CHANGES RS.3 CRORES IS APPLICABLE TO US
Replies (3)
As you writen cash payments involve than you have to check not exceed 5% of your total payments in cash, than you can file under Section 44AD as the turnover is below ₹3 crore. If cash payments exceed this limit, you will be required to undergo a compulsory audit under Section 44AB.
OK SIR THANKS
your welcome & my pleasure.
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